Lodestar Metals Closes Financing Tranche, Raises Over $1.1 Million
Lodestar Metals Corp. has completed the first tranche of its private placement financing, raising gross proceeds of $1,123,655. The funds will primarily support exploration at the company's Goldrun Project in Nevada.
Vancouver, BC – October 24, 2025 – Lodestar Metals Corp. announced today the closing of the first tranche of its private placement financing, generating gross proceeds of $1,123,655. The company issued approximately 15 million units at $0.075 per unit.
Each unit consists of one common share and half a share purchase warrant, exercisable at $0.12 per share for two years. Lodestar Metals retains the right to accelerate the expiry date of these warrants if the share price consistently trades above $0.15 for ten consecutive trading days.
Proceeds from this financing tranche are earmarked for exploration and drilling activities at the company's Goldrun Project located in Nevada. Additionally, a portion of the funds will be allocated to general working capital.
The first tranche saw the issuance of 14,982,068 units. These securities are subject to resale restrictions until February 25, 2026. The company also paid finder's fees in cash and warrants as part of the transaction.
Lodestar Metals is a gold exploration company focused on advancing its Goldrun Project in Nevada, situated on a significant Carlin-style gold trend near major gold deposits in North America.